WP/29047/2008 of Venkat N.R. Akkineni Vs Appellate Tribunal for Foreign Exchange, on 31 December 2008

IN THE HIGH COURT OF JUDICATURE, ANDHRA PRADESH AT HYDERABAD

(Special Original Jurisdiction)

WEDNESDAY, THE THIRTY FIRST DAY OF DECEMBERTWO THOUSAND AND EIGHT

PRESENTTHE HON'BLE MR JUSTICE GODA RAGHURAMAND THE HON'BLE MR JUSTICE SANJAY KUMAR

WRIT PETITION No: 29047 of 2008

BETWEEN:

Venkat N.R. Akkineni, S/o. Sri A. Nageshwara Rao

AND

... PETITIONER

1 Appellate Tribunal for Foreign Exchange, Ministry of Law Justice & Company Affairs, Janpath (Indian Oil) bhavan, new Delhi 110 001 Company Affairs, Janpath (Indian Oil) bhavan, new Delhi 110 001

2 Special Director (Appeals) Foreign exchange Management Act and Commissioner of Income Tax, Room No.385, C.R. Building, Commissioner of Income Tax, Room No.385, C.R. Building,

I.P.Estate, New Delhi 110 002

3 Deputy Director, Directorate of Enforcement Foreign Exchange Managment Act, Government of India No.9/1, State Bank road, (behind India Garage), Bangalor 560 001 Managment Act, Government of India No.9/1, State Bank road, (behind India Garage), Bangalor 560 001

4 Reserve Bank of India, Exchage Control Department, Overseas Investments Division, Central Office, Amar Building, 3rd Floor, Fort Mumbai 400 001 Investments Division, Central Office, Amar Building, 3rd Floor, Fort Mumbai 400 001

...RESPONDENTS

Petition under Article 226 of the Constitution of India praying that inthe circumstances stated in the Affidavit filed herein the High Court may bepleased to issue a writ, Order or Orders, more particularly a writ in the natureof Certiorari calling for the records relating to an connected with the ordersdated 22-10-2008 in Appeal No.124/2006 on the file of the 1st Respondent indismissing the appeal filed by the Petitioner, confirming the orders dated30.03.2006 made in Appeal No. SD(A) BGLR/2005-06/83, SD(A)/BGLR/2005-06/89 on the file of the 2nd Respondent confirming the OrderNo.DD/37/BZ/HNB/2005/FEMA(KNS)/2533 dated 29.09.2005 passed by the3rd Respodnent imposing a penalty of Rs.30,00,000/- (rupees thirty Lakhs)on the Writ Petitioner, for contravention of Section 6(3) of Foreign ExchangeManagement Act read with Regulation 15(iii) of the Notification No.FEMA 19-2000 RB Dated 03.05.2000 for non-submitting the Annual Performance Report, the audited balance sheets andprofit and loss account along with theDirectors Report on the working of the overseas foreign concern during theyear, and quash the same and pass such other order or orders.

Counsel for the Petitioner: MR.S.ASHOK ANAND KUMAR

Counsel for the Respondents: MR.A.RAJASHEKAR REDDY (ASSTSOLICITOR GEN)

The Court made the following:

ORDER:(per Hon’ble Sri Justice Goda Raghuram)

Sri S. Ashok Anand Kumar, learned counsel for the petitioner statesthat the petitioner does not want to pursue this writ petition,as the petitioner desires to pursue the available alternative remedy of appealunder Section 35 of the Foreign Exchange Management Act, 1999.

In view of the submission, the writ petition is dismissed as withdrawnwith liberty as sought for. The impugned order dated 22.10.2008 may bereturned to the petitioner. There shall be no order as to costs.

_________________

GODA RAGHURAM, J

_________________SANJAY KUMAR, J